This Steel Maker’s Balance Sheet Still Needs Work [The Motley Fool]
AK STEEL HOLDINGS (AKS)
Last ak steel holdings earnings: 2/20 07:00 am
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Source: The Motley Fool
This Steel Maker’s Balance Sheet Still Needs Work AK Steel ( NYSE:AKS balance sheet It got really bad AK Steel lost money every year between 009 and 0. It was a brutal period of time during which the company's cumulative losses totaled more than $ per share. A big portion of this red ink was driven by write-offs -- essentially, AK Steel took non-cash charges to reduce the value of long-term assets that were no longer expected to produce as much value as once believed. Image source: Getty Images Non-cash charges get pulled from shareholder equity, an important item on the balance sheet. This is where retained earnings The steep losses at AK Steel, driven by big non-cash charges, pushed the company's retained earnings deep into negative territory. By 0 retained earnings were roughly negative $.0 billion. That pushed stockholder equity to negative $980 million in 0. That's a very bad number, suggesting that there would have been nothing left for shareholders if the company had closed up
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